Floyd-polk Healthcare Foundation In

Nonprofit profile at a glance

EIN
872546864
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Rome, GA, USA
Phone
7065093295
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$17,345,626
Expenses
$3,055,588
Assets
$212,945,533
Liabilities
$500

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • PAUL C WHITE (PRESIDENT)

Highest reported compensation

  • KURT STEUNKEL (SECRETARY): $2,070,494 total reported compensation
  • PHILIP WHEELER (CFO): $570,741 total reported compensation
  • BRIDGETTE DINGLE MD (TRUSTEE): $547,318 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The floyd-polk healthcare foundation, inc. (the "foundation"), is organized and operated exclusively for the benefit of, to perform the functions of and to carry out the purposes of floyd healthcare management, inc., polk medical center, inc., the hospital authority of floyd county and the cedartown-polk county hospital authority. The foundation will promote the health of the communities served by each of the supported organizations, provide relief to the poor, distressed and underprivileged and lessen the burdens of government by engaging in activities such as the following: 1) providing funding to the supported organizations to establish or expand programs that address health disparities; 2) making contributions to the supported organizations to facilitate the delivery of healthcare services to the underinsured or uninsured; and 3) safeguarding assets to ensure the continued operation of floyd medical center and polk medical center.

What it reported doing in 2024

The foundation will promote the health of the communities served by each of the 4 supported organizations, provide relief to the poor, distressed and underprivileged and lessen the burdens of government by engaging in activities that further public health in the communities served, provide funds to the 4 supported organizations, and safeguard assets to ensure the continued operation of floyd medical center and polk medical center.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 84% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 60
  • Accountability: 64
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.5%; rating input score 40
  • Program expense ratio: 82.1%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 64.7%; rating input score 65; 11th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 82.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 69.69; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 112% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -111.7% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 39.5% of revenue deployed · 82.1% of spending went to programs
  • Governance: 11 of 17 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $2.1M · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.